Canada Hits Back with $27.6 Billion in Counter-Tariffs
Canada has imposed counter-tariffs on $27.6 billion worth of U.S. imports, matching the dollar-for-dollar and rate-for-rate tariffs imposed by the United States last month.
The duties range from 15 to 50 per cent and target products including steel and aluminum, dairy, appliances, agricultural equipment, pulp and paper, plastics, and electronics.
According to Akaash Maharaj, a senior fellow at the University of Toronto's Munk School of Global Affairs and Public Policy, the size gap between the two economies doesn't determine the amount of leverage Canada has in this situation.
'The Americans have been keen to mock and deride Mark Carney by pointing out that their economy is 10, 15 times larger than ours,' Maharaj said. 'All these statements are true. They're also irrelevant.'